ADMINISTRATIVE COMMITTEE

 

7.

RECEIVE AND FILE SECOND QUARTER FINANCIAL ACTIVITY REPORT FOR FISCAL YEAR 2016-2017

 

Meeting Date:

February 15, 2017

Budgeted:

N/A

 

From:

David J. Stoldt,

Program/

N/A

 

General Manager

Line Item No.:

 

Prepared By:

Suresh Prasad

Cost Estimate:

N/A

 

General Counsel Review:N/A

Committee Recommendation: The Administrative Committee reviewed this item on February 15, 2017 and recommended ____________.

CEQA Compliance:No CEQA Required

 

SUMMARY:The second quarter of Fiscal Year (FY) 2016-2017 came to a conclusion on December 31, 2016.Table comparing budgeted and actual year-to-date revenues and expenditures for the period are included as Exhibit 7-A.Exhibits 7-B and 7-C presents the same information in bar graph format.The following comments summarize District staff's observations:

 

REVENUES

 

The revenue table compares amounts received through the second quarter and conclusion of FY 2016-2017 to the amounts budgeted for that same time period.Total revenues collected were $4,347,048, or 69.2% of the budgeted amount of $6,280,325.Variances within the individual revenue categories are described below:

 

 

EXPENDITURES

 

Expenditure activity as depicted on the expenditure table is similar to patterns seen in past fiscal years.Total expenditures of $3,637,769 were about 57.9% of the budgeted amount of $6,280,325 for the period.Variances within the individual expenditure categories are described below:

 

 

EXHIBITS

7-A††††† Revenue and Expenditure Table

7-B††††† Revenue Graph

7-C††††† Expenditure Graph

 

 

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